Resold private flats surged three-fold to 920 units

Still strong demand from home buyers.

According to SRX, prices of resale non-landed private residential in Jan 2013 inched up 0.6% month-on-month compared with Dec 2012.

Rest of Central Region (RCR) and Outside Central Region (OCR) gained 2.5% and 1.1% respectively in Jan to reach avg PSF of $1,256 and $997 respectively. In contrast, Core Central Region (CCR) saw a drop of 2.9% m-o-m to reach an average PSF of $1,878.

There were 920 private resale residential flats resold in Jan 2013, exceeding the 788 units sold in the preceding month by 16.7%.

Comparing year-on-year, the monthly resale volume of 920 units in January almost triple the 309 units sold over the same period last year (Jan 2012). (Note: Lunar New Year fell on Jan 2012 which partly explains for the low resale volume in that period)

Rental prices for non-landed private residential in Jan gained by 1.2% compared with Dec 2012.

This is led by a 3.8% increase in RCR, followed by 0.9% increase in CCR. OCR experienced a mild rental price drop of 0.6%. The average rental PSF in CCR, RCR and OCR were $4.68psf, $4.11psf and $3.18psf respectively.

2,340 rental deals were inked by SRX member companies in Jan, up by 10.6% compared with Dec 2012.

Overall rental yields remained largely unchanged. Marginal changes of within 0.1% was observed on a month-on-month basis across all three regions.

HDB resale cash-over-valuation (COV) was $34,000 in January, a $1,000 increase over Dec 2012.

Overall median resale price was $457,000, a 0.7% decrease from Dec 2012.

1,201 HDB resale flats were transacted in January 2013 by SRX member companies. An estimated 300 transactions for January are still being processed. This will likely result in an estimated 1,500 HDB resale flats in Jan 2013, compared to the 1,560 monthly average in 2012Q4.

Overall HDB median rents remained unchanged at $2,400.

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